AMENDED AND RESTATED TERM PREFERRED SHARES VOTING TRUST AGREEMENT
EXHIBIT 99.4
EXECUTION VERSION
AMENDED AND RESTATED TERM PREFERRED SHARES
THIS AMENDED AND RESTATED TERM PREFERRED SHARES
VOTING TRUST AGREEMENT (this “Agreement”) is made and entered
into effective for all purposes and in all respects as of February
23, 2018 by and among Lord Securities Corporation, including its
successors and assigns by operation of law, as trustee (the
“Trustee”),
Toronto Dominion Investments Inc., including its successors and
assigns by operation of law (the “Purchaser”), and Glass Lewis &
Co., LLC, including its successors and assigns by operation of law
(the “Voting
Consultant”).
WHEREAS, the Purchaser is the legal and
Beneficial Owner of (i) the Series of Variable Rate Demand
Preferred Shares listed on Schedule 1 to this Agreement (including
as supplemented from time to time in accordance with this Agreement
to add Additional VRDP Shares thereto) (the “VRDP Shares”) and (ii) the Series
of MuniFund Preferred Shares, Variable Rate MuniFund Term Preferred
Shares or other term preferred shares listed on Schedule 2 to this
Agreement (including as supplemented from time to time in
accordance with this Agreement to add Additional Term Preferred
Shares thereto) (the “Term
Preferred Shares”), which VRDP Shares and Term
Preferred Shares were issued by the respective issuers thereof
listed on Schedule 1 or Schedule 2, as applicable, to this
Agreement (each, a “Fund”);
WHEREAS, the Purchaser may in the future
become the legal and Beneficial Owner of additional Variable Rate
Demand Preferred Shares (“Additional VRDP Shares”) and
additional MuniFund Preferred Shares, Variable Rate MuniFund Term
Preferred Shares or other term preferred shares
(“Additional Term Preferred
Shares”), and the parties hereto wish to provide a
means of subjecting those Additional VRDP Shares and Additional
Term Preferred Shares to this Agreement as VRDP Shares or Term
Preferred Shares, as applicable;
WHEREAS, the Purchaser desires to
transfer and assign irrevocably to the Trustee, and the Trustee
desires to accept such transfer and assignment of, the right to
vote for such Purchaser in connection with its voting rights set
forth in Section 1 below as a Beneficial Owner of VRDP Shares and
Term Preferred Shares that may be acquired from time to time by the
Purchaser (such VRDP Shares and Term Preferred Shares, when owned
by the Purchaser, the “Subject Shares”);
WHEREAS, the parties hereto entered into
a Special Rate Period Voting Trust Agreement, dated as of January
26, 2017 (the “Original
Voting Trust Agreement”), in respect of the VRDP
Shares;
WHEREAS, the Voting Consultant,
appointed pursuant to the Proxy Voting Consultant Agreement, shall
analyze any Voting Matters (as defined below) requiring or
permitting the owner of Subject Shares to vote in its capacity as
an equity holder (whether at a meeting or otherwise) and shall
provide a recommendation to the Trustee of how to vote with respect
to such Voting Matters;
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WHEREAS, the Voting Consultant and the
Trustee are Independent (and not Affiliates) of the
Purchaser;
WHEREAS, the parties hereto desire to
amend and restate the Original Voting Trust Agreement, among other
things, to give effect to the acquisition of Term Preferred Shares;
and
WHEREAS, the parties hereto desire to
set forth in writing their understandings and agreements with
respect to certain voting rights relating to the Subject
Shares.
NOW, THEREFORE, in consideration of the
foregoing, of the mutual promises hereinafter set forth and of
other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto, intending
legally and equitably to be bound, hereby amend and restate the
Original Voting Trust Agreement and agree as follows:
1. Creation
of Trust
The
Purchaser hereby irrevocably transfers and assigns to the Trustee,
and the Trustee hereby accepts the transfer and assignment of, the
right to vote for the Purchaser in connection with all of its
voting rights as Beneficial Owner of Subject Shares with respect to
the following matters (collectively, the “Voting Matters”):
(a)
the election of the
two members of the Board of Trustees of a Fund for which holders of
VRDP Shares or Term Preferred Shares, as applicable, are
exclusively (along with other Preferred Shares of the Fund)
entitled to vote under Section 18(a)(2)(C) of the Investment
Company Act of 1940, as amended, and all other rights given to
holders of VRDP Shares or Term Preferred Shares, as applicable, of
a Fund with respect to the election of the Board of Trustees of
such Fund;
(b)
any matters
submitted to a vote of the shareholders of a Fund that do not
relate to (i) the authorization, creation or issuance of any
class or series of shares ranking prior to the VRDP Shares or Term
Preferred Shares, as applicable, of such Fund with respect to the
payment of dividends or the distribution of assets upon
dissolution, liquidation or winding up of the affairs of such Fund,
or (ii) the amendment, alteration or repeal of the provisions
of (a) the declaration of trust of such Fund, (b) the statement
establishing and fixing the rights and preferences of any VRDP
Shares or Term Preferred Shares, as applicable, (c) any notice of
special rate period establishing and fixing, in whole or in part,
the rights and preferences of any VRDP Shares of such Fund during
the special rate period applicable to such VRDP Shares, or (d) any
supplement to the statement establishing and fixing the rights and
preferences of any Term Preferred Shares during any mode or similar
special rate period applicable to such Term Preferred Shares, in
each case, of such Fund, whether by merger, consolidation or
otherwise, so as to materially and adversely affect any preference,
right or power of such VRDP Shares or Term Preferred Shares or the
holders or the beneficial owners thereof; and
(c)
any matters
described in 12 C.F.R. § 225.2(q)(1).
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In
order to effect the transfer of voting rights with respect to the
Voting Matters, the Purchaser hereby irrevocably appoints and
constitutes the Trustee as its attorney-in-fact and agrees to grant
the Trustee one or more irrevocable proxies with respect to the
Voting Matters and further agrees to renew any such proxies that
may lapse by their terms while any relevant Subject Shares are
still subject to this Agreement.
The
Purchaser will retain all other voting rights relating to the
Subject Shares, provided that, for the avoidance of doubt, such
voting rights shall not exceed those described in 12 C.F.R. §
225.2(q)(2). If any dividend or other distribution in respect of
any Subject Shares is paid, such dividend or distribution will be
paid directly to the Person (including, if applicable, the
Purchaser) owning such Subject Shares, provided that any additional VRDP
Shares or Term Preferred Shares, as applicable, included in such
dividend or other distribution will become part of the Subject
Shares covered by this Agreement.
2. Definitions
“Affiliate” means, with respect to
a Person, (i) any other Person who, directly or indirectly, is
in control of, or controlled by, or is under common control with,
such Person or (ii) any other Person who is a director or trustee,
officer, employee or general partner (a) of such Person,
(b) of any majority-owned subsidiary or parent company of such
Person or (c) of any Person described in clause (i) above. For
the purposes of this definition, “control” of a Person
shall mean the power, direct or indirect, (x) to vote 25% or
more of the securities having ordinary voting power for the
election of directors or trustees of such Person or (y) to
direct or cause the direction of the management and policies of
such Person whether by contract or otherwise.
“Beneficial Owner” means, with
respect to any securities, any Person who, directly or indirectly,
through any contract, arrangement, understanding, relationship, or
otherwise has or shares (i) the power to vote, or to direct
the voting of, such securities and/or (ii) the power to
dispose, or to direct the disposition of, such
securities.
“Board of Trustees” means the Board
of Trustees or Board of Directors, as applicable, of the relevant
Fund or any duly authorized committee thereof.
“Independent” means, as to any
Person, any other Person who (i) does not have and is not
committed to acquire any material direct or any material indirect
financial interest in such Person, (ii) is not connected with
such Person as an officer, employee, promoter, underwriter,
partner, director or Person performing similar functions and
(iii) is not otherwise subject to the undue influence or
control of such other Person. For purposes of this definition, no
Person will fail to be Independent solely because such Person acts
as a voting consultant or trustee in respect of property owned by
another Person or its Affiliates pursuant to this Agreement or any
other agreement. With respect to item (i) above, “material
direct or material indirect financial interest” means,
(1) as to any Person, owning directly or indirectly (as
principal for such Person’s own account) at least 5% of any
class of the outstanding equity or debt securities issued by any
other Person or (2) with respect to a Person (the
“Investor”)
owning directly or indirectly (as principal for the
Investor’s own account) outstanding equity or debt securities
of any other Person in an amount at least equal to 5% of the total
consolidated shareholders equity of the Investor (measured in
accordance with U.S. generally accepted accounting
principles).
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“Person” means and includes an
individual, a partnership, a corporation, a trust, an
unincorporated association, a joint venture or other entity or a
government or any agency or political subdivision
thereof.
“Proxy Voting Consultant Agreement”
means that certain Proxy Voting Consultant Agreement by and between
the Voting Consultant and the Purchaser (and/or an Affiliate of the
Purchaser), as may be amended from time to time in accordance with
the provisions thereof, which Proxy Voting Consultant Agreement
sets forth additional details, including fees, pursuant to which
the Voting Consultant is providing the services contemplated
hereunder.
3. Effect
of Transfer
The
Purchaser shall have the right to sell or otherwise transfer
Subject Shares at any time in its sole discretion, subject to any
transfer restrictions applicable to the Subject Shares. Upon the
transfer of Subject Shares by the Purchaser to any third party
(other than a transfer, if any, to an Affiliate of the Purchaser in
connection with a related assignment to such Affiliate of the
Purchaser’s rights and obligations under this Agreement
pursuant to Section 20, in which case such Subject Shares shall
remain Subject Shares under this Agreement) such Subject Shares
shall cease to constitute Subject Shares under this Agreement (but
subject to any transferred VRDP Shares or Term Preferred Shares
again becoming Subject Shares pursuant to the definition
thereof).
4. Trustee
(a) Rights
And Powers Of Trustee. With respect to Subject Shares of
which the Purchaser is the Beneficial Owner, the Trustee shall, in
person or by nominees, agents, attorneys-in-fact, or proxies, have
the right and the obligation to vote with respect to all Voting
Matters requiring or permitting holders of VRDP Shares or Term
Preferred Shares, as applicable, to vote with respect thereto,
subject to the terms of this Agreement. The Trustee shall be
obligated to vote with respect to any Voting Matter in accordance
with Section 7 and the other provisions of this
Agreement.
(b) Liability
Of Trustee. In exercising the rights and powers of the
Trustee hereunder, the Trustee will exercise all such rights and
powers in the Trustee’s best judgment and in accordance with
the recommendations of the Voting Consultant; provided, however, the Trustee shall not be
liable for any action taken by the Trustee or the Trustee’s
agent, except for liability arising from the Trustee’s bad
faith, willful misconduct or gross negligence. The Trustee shall
not be required to give any bond or other security for the
discharge of the Trustee’s duties.
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(c) Resignation
of and Successor Trustee. The Trustee may at any time resign
as Trustee by delivering a resignation in writing to the Purchaser
and the Voting Consultant to become effective at least 90 days
after the date of such delivery, but in any event such notice shall
not become effective prior to the acceptance of a successor
Trustee. The Trustee shall nominate a successor Trustee acceptable
to the Purchaser, who shall have all rights, powers and obligations
of the resigning Trustee as set forth in this Agreement, and all
rights, powers and obligations of the resigning Trustee hereunder
shall immediately terminate upon the acceptance by the successor
Trustee of such nomination and the execution of this Agreement by
the successor Trustee as “Trustee” hereunder. No such
resignation shall become effective until such time as a successor
Trustee has been appointed and such appointment has been accepted.
The fact that any Trustee has resigned such Trustee’s
position as a Trustee shall not act, or be construed to act, as a
release of any Subject Shares from the terms and provisions of this
Agreement.
(d) Removal.
The Trustee may be removed by the Purchaser upon 30 days’
prior written notice upon either (i) a material breach by the
Trustee of its obligations hereunder or (ii) any action or
inaction of the Trustee that constitutes bad faith, negligence or
willful misconduct in the performance of its obligations
hereunder.
(e) Independent.
The Trustee represents that it is Independent (and not an
Affiliate) of the Purchaser.
5. Voting
Consultant
(a) Liability
Of Voting Consultant. In providing its voting
recommendations on Voting Matters hereunder, the Voting Consultant
will provide such recommendations in the Voting Consultant’s
best judgment as to the best interests of the Purchaser as holder
and beneficial owner of the Subject Shares with respect to the
Voting Matters; provided,
however, the Voting
Consultant shall not be liable for any action taken by such Voting
Consultant or the Voting Consultant’s agent, except for
liability arising from the Voting Consultant’s bad faith,
willful misconduct or gross negligence. For the avoidance of doubt,
the Voting Consultant’s maximum liability shall be limited to
an amount not to exceed the total amounts of the fees the Voting
Consultant receives under the Proxy Voting Consultant Agreement in
any one year period for any and all claims made within that one
year period; provided that,
if a breach of Section 5(d) is determined to have occurred, the
sole remedy shall be the immediate removal of the Voting Consultant
by the Purchaser in the Purchaser’s sole discretion and no
monetary damages shall be due or payable. In addition, the Voting
Consultant shall not be liable for any action taken by the Trustee
contrary to the recommendations provided by the Voting
Consultant.
(b) Resignation
of and Successor Voting Consultant. The Voting Consultant
may at any time resign as Voting Consultant by delivering a
resignation in writing to the Purchaser and to the Trustee to
become effective at least 90 days after the date of such delivery.
Upon receipt of the Voting Consultant’s written resignation,
the Purchaser shall use commercially reasonable efforts to appoint
a successor Voting Consultant that has been consented to by the
Trustee, such consent not to be unreasonably withheld. If the
Voting Consultant shall resign but a successor Voting Consultant
has not assumed all of the Voting Consultant’s duties and
obligations within 90 days of such resignation, the Voting
Consultant may petition any court of competent jurisdiction for the
appointment of a successor Voting Consultant. No such resignation
shall become effective until such time as a successor Voting
Consultant has been appointed and such appointment has been
accepted.
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(c) Removal.
The Voting Consultant may be removed by the Purchaser upon 30
days’ prior written notice upon either (i) a material
breach by the Voting Consultant of its obligations hereunder or
(ii) any action or inaction of the Voting Consultant that
constitutes bad faith, gross negligence or willful misconduct in
the performance of its obligations hereunder.
(d) Independent.
The Voting Consultant represents that it is Independent (and not an
Affiliate) of the Purchaser; provided, however, if the Voting Consultant
becomes aware that the Voting Consultant is no longer Independent
of the Purchaser, the Voting Consultant shall promptly, and in no
event later than two Business Days after becoming so aware, notify
the Purchaser and shall abstain from making voting recommendations
during any period of time during which the Voting Consultant is not
Independent of the Purchaser. If the Voting Consultant notifies the
Purchaser that it is no longer Independent of the Purchaser, the
Purchaser shall use commercially reasonable efforts to identify and
appoint a replacement voting consultant.
6. Additional
VRDP Shares or Term Preferred Shares; Amount of Subject Shares
Notification
If the
Purchaser acquires any Additional VRDP Shares or Additional Term
Preferred Shares, the Purchaser may provide a written notice to the
Voting Consultant and Voting Trustee identifying the relevant
Additional VRDP Shares or Additional Term Preferred Shares as VRDP
Shares or Term Preferred Shares, as applicable, for purposes of
this Agreement, which notice shall be accompanied by a revised
Schedule 1 or Schedule 2, as applicable, supplemented to include
such Additional VRDP Shares as VRDP Shares or such Additional Term
Preferred Shares as Term Preferred Shares, as applicable, and
specifying the effective date of such revised schedule. Thereafter,
such Additional VRDP Shares shall constitute “VRDP
Shares” and such Additional Term Preferred Shares shall
constitute “Term Preferred Shares” under this
Agreement. Additionally, on any date on which the Purchaser
otherwise acquires any Subject Shares, or sells or otherwise
transfers any Subject Shares to another Beneficial Owner (including
a transfer, if any, to an Affiliate of the Purchaser in connection
with a related assignment to such Affiliate of the
Purchaser’s rights and obligations under this Agreement), the
Purchaser shall promptly notify the Trustee of such occurrence and
the number of Subject Shares that the Purchaser (and any such
Affiliate) then owns.
7. Voting
Communications
At any
time during which the Purchaser is the Beneficial Owner of Subject
Shares, the Purchaser shall notify the Trustee and the Voting
Consultant as soon as possible and, in any event, not later than
two Business Days after receipt of notice that a vote of the
holders of VRDP Shares or Term Preferred Shares, as applicable, has
been requested or permitted on any Voting Matter and the Purchaser
shall, within such same time frame, forward any information sent to
the Purchaser in connection with such vote to the Trustee and the
Voting Consultant by Electronic Means.
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The
Voting Consultant shall analyze and provide a voting recommendation
to the Trustee (with a copy to the Purchaser) with respect to each
Voting Matter in respect of the relevant Subject Shares. The
Trustee is obligated to act in accordance with the voting
recommendation made by the Voting Consultant in its voting
recommendation. If the Voting Consultant fails to provide a voting
recommendation to the Trustee on or prior to the deadline for
submission of such vote, the Trustee shall not be obligated to
provide a vote on behalf of the Purchaser on such deadline and
shall provide notice of the failure to receive a voting
recommendation to the Purchaser and the Voting Consultant. In all
Voting Matters, the Trustee shall use the proxies granted to it by
the Purchaser to vote the relevant Subject Shares in accordance
with the voting recommendation made by the Voting Consultant, and
the Purchaser shall not exercise any voting rights in such
matters.
8. Indemnification
(a) Of
the Trustee and the Voting Consultant. The Purchaser shall
indemnify and hold the Trustee and the Voting Consultant and the
Trustee’s and the Voting Consultant’s agents,
employees, officers and directors harmless from and against any and
all liabilities, obligations, losses, damages, penalties, taxes,
claims, actions, suits, reasonable costs, reasonable expenses or
disbursements (including reasonable legal fees and expenses) of any
kind and nature whatsoever in connection with or growing out of
(i) with respect to the Trustee, the administration of the
voting trust created by this Agreement or (ii) with respect to
the Trustee and the Voting Consultant, the exercise of any powers
or the performance of any duties by the Trustee or the Voting
Consultant as herein provided or contemplated, including, without
limitation, any action taken or omitted to be taken, except, with
respect to the Trustee and the Voting Consultant separately, such
as may arise from the bad faith, willful misconduct or gross
negligence of the Trustee or the Voting Consultant, respectively.
In no event shall the Purchaser be liable for special, incidental,
indirect or consequential damages.
(b) Of
the Purchaser and the Voting Consultant. The Trustee shall
indemnify and hold the Purchaser and the Voting Consultant and the
Purchaser’s and the Voting Consultant’s agents,
employees, officers and directors harmless from and against any and
all liabilities, obligations, losses, damages, penalties, taxes,
claims, actions, suits, reasonable costs, reasonable expenses or
disbursements (including reasonable legal fees and expenses) of any
kind and nature whatsoever which may be imposed on, incurred by or
asserted against the Purchaser or the Voting Consultant in
connection with or growing out of the bad faith, willful misconduct
or gross negligence of the Trustee in connection with the exercise
of any powers or the performance of any duties by the Trustee as
herein provided or contemplated, including, without limitation, any
action taken or omitted to be taken, except, with respect to the
Purchaser and the Voting Consultant separately, such as may arise
from the willful misconduct or gross negligence of the Purchaser or
the Voting Consultant, respectively. In no event shall the Trustee
be liable for special, incidental, indirect or consequential
damages.
(c) Of
the Purchaser and the Trustee. The Voting Consultant shall
indemnify and hold the Purchaser and the Trustee and the
Purchaser’s and the Trustee’s agents, employees,
officers and directors harmless from and against any and all
liabilities, obligations, losses, damages, penalties, taxes,
claims, actions, suits, reasonable costs, reasonable expenses or
disbursements (including reasonable legal fees and expenses) of any
kind and nature whatsoever which may be imposed on, incurred by or
asserted against the Purchaser or the Trustee in connection with or
growing out of the bad faith, willful misconduct or gross
negligence of the Voting Consultant in connection with the exercise
of any powers or the performance of any duties by the Voting
Consultant as herein provided or contemplated, including, without
limitation, any action taken or omitted to be taken, except, with
respect to the Purchaser and the Trustee separately, such as may
arise from the willful misconduct or gross negligence of the
Purchaser or the Trustee, respectively; provided, however, that the Voting
Consultant’s maximum liability under this Section 8(c) shall
be limited to an amount not to exceed the total amount of the fees
the Voting Consultant receives under the Proxy Voting
Consultant Agreement in
any one year period for any and all claims made within that one
year period. In no event shall the Voting Consultant be liable for
special, incidental, indirect or consequential
damages.
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(d) Conditions
to Indemnification. An indemnified party must give the other
party(ies) prompt written notice of any claim and allow the
indemnifying party to defend or settle the claim as a condition to
indemnification. No settlement shall bind any party without such
party’s written consent.
9. Termination
of Agreement
(a) This
Agreement and the voting trust created hereby shall terminate with
respect to any VRDP Shares or Term Preferred Shares identified in
writing by the Purchaser in a notice provided to the Trustee and
the Voting Consultant (i) at the option of the Purchaser, upon
the non-payment of dividends on such VRDP Shares or Term Preferred
Shares for two years (whether or not such VRDP Shares or Term
Preferred Shares constitute Subject Shares at such time),
(ii) at the option of the Purchaser, at any time that the
Purchaser is not the Beneficial Owner of any VRDP Shares or Term
Preferred Shares (i.e., such VRDP Shares or Term Preferred Shares
are not Subject Shares) or (iii) at the option of the
Purchaser, in connection with the Purchaser entering into a
replacement voting trust agreement in respect of such VRDP Shares
or Term Preferred Shares.
(b) Upon
the termination of this Agreement with respect to any VRDP Shares
or Term Preferred Shares, the voting trust created pursuant to
Section 1 hereof shall cease to have any effect with respect to
such VRDP Shares or Term Preferred Shares, and the parties hereto
shall have no further rights or obligations under this Agreement
with respect to such VRDP Shares or Term Preferred Shares. Upon the
termination of this Agreement with respect to all VRDP Shares and
Term Preferred Shares, the parties hereto shall have no further
rights or obligations under this Agreement, provided that Section 8
hereof shall survive the termination of this
Agreement.
10. Trustee’s
Compensation
The
Trustee shall be entitled to the compensation set forth in the
letter agreement between the Purchaser (or an Affiliate thereof)
and the Trustee dated as of January 26, 2017, as may be amended
from time to time.
11. Voting
Consultant’s Compensation
The
Voting Consultant shall be entitled to the compensation pursuant to
the Proxy Voting Consultant Agreement.
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12. Tax
Treatment
It is
the intention of the parties hereto that for all federal, state and
local income and other tax purposes the Beneficial Owner shall be
treated as the owner of the relevant Subject Shares and, except as
otherwise required by law or by generally accepted accounting
principles in the case of financial reporting, no party shall take
a contrary position in any tax return or report or otherwise act in
a contrary manner.
13. Notices
All
notices, requests and other communications to the Purchaser, the
Trustee or the Voting Consultant shall be in writing (including
telecopy, electronic mail or similar writing), except in the case,
if any, of notices and other communications expressly permitted to
be given by telephone, and shall be given to such party at its
address or telecopy number or email address set forth below or to
such other Person and/or such other address or telecopy number or
email address as such party may hereafter specify for the purpose
by notice to the other party. Each such notice, request or other
communication shall be effective (i) if given by mail, five
days after such communication is deposited in the mail, return
receipt requested, addressed as aforesaid, or (ii) if given by
any other means, when delivered at the address specified in this
Section. The notice address for each party is specified
below:
if to
the Purchaser:
Toronto
Dominion Investments Inc.
00 Xxxx
00xx Xxxxxx
Xxx
Xxxx, XX 00000
Attention:
Xxxxxx Xxxxxxxxxx,
Managing Director, Head of Global Counterparty
Credit USA, TD
Securities (USA) LLC
Telephone: (000)
000-0000
Facsimile: (000)
000-0000
With a
copy to:
Xxxx
Xxxxxxxx, Director, Head of Municipal Products, TD Securities (USA)
LLC
Telephone: (000)
000-0000
Facsimile: (000)
000-0000
Email:
xxxxxxxxxxxxx@xxxxxxxxxxxx.xxx,
xxxxxxx@xxxxxxxxxxxx.xxx,
XXXXxxxxxxXxxxxxx@xxxxxxxxxxxx.xxx
and
xxxx.xxxxxxxx@xxxxxxxxxxxx.xxx
if to
the Trustee:
LordSPV, a TMF
Group Company
00 Xxxx
Xxxxxx, 00xx Xxxxx
Xxx
Xxxx, XX 00000
Attention: Xx
X’Xxxxxxx
General
Counsel
Telephone: (000)
000-0000
Facsimile: (000)
000-0000
Mobile:
(000) 000-0000
Email:
xxxxxx.xxxxxxxx@xxx-xxxxx.xxx
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if to
the Voting Consultant:
Glass
Lewis & Co.
00 Xxxx
Xxxxxx, Xxxxx 0000
Xxx
Xxxx, XX 00000
Attention:
Xxxxxxxxxx Xxxxxx
Telephone: (000)
000-0000
Email:
xxxxxxx@xxxxxxxxxx.xxx
With a
copy to:
Glass
Lewis & Co.
00 Xxxx
Xxxxxx, Xxxxx 0000
Xxx
Xxxx, XX 00000
Attention: Xxxxxx
Xxxxxxx
Telephone: (000)
000-0000
Email:
xxxxxxxx@xxxxxxxxxx.xxx
14. Modification
No
modification of this Agreement shall be effective unless in writing
and signed by all of the parties hereto.
15. Benefit
and Burden
This
Agreement shall inure to the benefit of, and shall be binding upon,
the parties hereto and their successors and assigns.
16. Severability
The
invalidity of any particular provision of this Agreement shall not
affect the validity of the remainder hereof, and this Agreement
shall be construed in all respects as if such invalid or
unenforceable provision were omitted.
17. Headings
The
section headings herein are for convenience of reference only and
shall not affect the construction, or limit or otherwise affect the
meaning, hereof.
18. Applicable
Law
This
Agreement shall be construed and enforced in accordance with and
governed by the domestic law of the State of New York.
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THE
PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE
FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE CITY OF NEW YORK,
BOROUGH OF MANHATTAN, NEW YORK IN CONNECTION WITH ANY DISPUTE
RELATED TO THIS AGREEMENT OR ANY MATTERS CONTEMPLATED
HEREBY.
19. Waiver
of Jury Trial
THE
PURCHASER, THE TRUSTEE AND THE VOTING CONSULTANT HEREBY WAIVE TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY OF
THE PARTIES HERETO AGAINST THE OTHER(S) ON ANY MATTERS WHATSOEVER
ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS
AGREEMENT.
20. Assignment
None of
the parties hereto may assign or otherwise transfer any of its
rights or obligations under this Agreement without the prior
written consent of the other parties, provided that, without the consent of
either the Trustee or the Voting Consultant, the Purchaser may
assign its rights and obligations under this Agreement (i) to
an Affiliate, (ii) to a successor entity following a
consolidation, amalgamation with, or merger with or into, such
successor entity or (iii) to a transferee that acquires all or
substantially all of the Purchaser’s assets. Upon any such
assignment, such assignee shall become the “Purchaser”
hereunder, and the Purchaser and such assignee shall provide notice
of such assignment to the other parties hereto. Any assignment
other than in accordance with this Section 20 shall be
void.
21. Conflicts
with Other Documents
In the
event that this Agreement requires any action to be taken with
respect to any matter and the Proxy Voting Consultant Agreement
requires that a different action be taken with respect to such
matter, and such actions are mutually exclusive, the provisions of
this Agreement in respect thereof shall control.
22. Counterparts
This
Agreement may be executed by the parties hereto in any number of
separate counterparts, each of which shall be deemed to be an
original, and all of which taken together shall be deemed to
constitute one and the same instrument. Any counterpart or other
signature delivered by facsimile or by electronic mail shall be
deemed for all purposes as being a good and valid execution and
delivery of this Agreement by the party so delivering such
counterpart or other signature.
11
IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the date first set forth
above.
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Toronto
Dominion Investments Inc., as Purchaser
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By:
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/s/
Xxxxx
Xxxxx
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Name: Xxxxx
Xxxxx
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Title: VP & Treasurer |
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Lord
Securities Corporation, as Trustee
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By:
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/s/
Xxxxxx X.
Xxxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxxx |
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Title:
Director
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Glass
Lewis & Co., LLC, as Voting Consultant
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By:
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/s/
Xxxx
Xxxxxxxx
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Name: Xxxx Xxxxxxxx |
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Title: SVP Sales and Marketing |
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12
Schedule 1
Description
of Special Rate Period VRDP Shares
Effective as of
January 26, 2017
Issuer
|
Series and Number of VRDP Shares
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Nuveen
New Jersey Quality Municipal Income Fund
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Series
1 VRDP Shares, 810 Shares
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Nuveen
Virginia Quality Municipal Income Fund
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Series
1 VRDP Shares, 1280 Shares
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13
Schedule 2
Description
of Term Preferred Shares
Effective as of
February 23, 2018
Issuer
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Series and Number of Term Preferred Shares
|
Nuveen
Municipal Credit Income Fund
|
Series
A MuniFund Preferred Shares, 1,500 shares
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Nuveen
Municipal Credit Income Fund
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Series
B MuniFund Preferred Shares, 1,550 shares
|
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14